“While the reform direction is clear… the speed will change, but the reform will undoubtedly be set to continue as well as the direction is just not altered.

But, the head of the International Monetary Fund, Christine Lagarde, said China faced an “overwhelming” plan of structural reforms.

Analysts said most of Mr Zhou’s opinions were designed to facilitate international stresses on the continuing stresses about the unpredictability of the stock market in China and also the manner Beijing manages its money.

You’ll find concerns China will enable the yuan to weaken drive its market and to enhance its exports.

Regarding the the G20’s discussions on international exchange rates, Mr Zhou said he’d have to attend to see how it would be discussed by the group.

“China has consistently opposed competitive currency devaluations as a means to boost export competitiveness” he said.

‘Beggar-Thy-Neighbour’

Additionally talking in Shanghai on Friday, the Bank of England’s governor Mark Carney said he was concerned by moves to cut interest rates as a way to improve increase.

He explained it could find the development of a “beggar-thy-neighbour” landscape whereby efforts to foster a nation’s market damages other markets.

Mr Carney said of a quarter of global output was coming from markets where interest rates were “actually through the floor”.

“It’s important that stimulation measures are structured to foster domestic demand, especially from sectors of the market with strong balance sheets” he said.

“There are limitations to the extent to which negative rates can attain this.”

He likewise stated that authorities needed to step up the rate of financial reforms.

“International growth has disappointed since the initiation and aspiration of international monetary policy has not yet been matched by structural measures” Mr Carney said.